The Financial Wisdom Foundation
The Financial Wisdom Foundation
We are building a nonprofit organization dedicated to one purpose: bringing sound, practical financial education to people who need it most — starting with people who are incarcerated.
Why a Foundation?
Every year, hundreds of thousands of people are released from federal and state prisons. In 2022 alone, 448,000 people were released from state prisons. Of those, nearly half will be rearrested within a year.
Many studies have shown that financial stress is a major contributor to recidivism. People are released with crushing debt, no job prospects, and no tools for navigating the financial challenges that await them. The educational resources available to them are largely aimed at people who already have money.
We believe there is a better way. We’ve spent more than twenty years developing it, and we’ve seen it work. Now we want to make it available to every corrections education and reentry program in the country — at no cost to the students.
That requires an organization. Not a business. A foundation.
The Financial Wisdom Foundation will share its portfolio of educational materials with leaders, instructors, and students in corrections education and reentry programs. We will also engage with any organization involved in reentry support and encourage them to provide Financial Wisdom resources to their clients.
Our materials are not designed as a for-profit enterprise. We have nothing to patent or bottle up and sell. We propose to make everything available at no cost to people involved in corrections education and reentry.
Mission over profit. We want to focus on program impact, not revenue. Our work needs to be clearly separated from the profitable businesses already involved in corrections education.
Credibility and trust. A nonprofit structure signals legitimacy and makes it easier to form partnerships with correctional facilities, policymakers, and community organizations.
Access to funding. As a 501(c)(3), we can apply for foundation grants, government funding, and corporate sponsorships that are not available to for-profit organizations.
Sustainability. We are building toward self-sufficiency through a combination of book sales, subscriptions, donations, and partnerships — without the burden of market competition.
Year One — Establish the organization. Secure initial funding. Support existing pilot programs and launch new ones, focusing on the Northeast — New Jersey, New York, and Massachusetts, where we already have contacts and awareness.
Year Two — Expand. Double the number of programs. Work toward adoption in state correctional systems. Develop Spanish-language translations. Publish The Richest Woman in New Babylon. Build our digital resources and communication channels.
Year Three — Sustainability. Grow our reach nationally. Publish research. Develop the Leadership Academy. Advocate for policy changes that reduce the financial burdens ex-offenders face. Reach financial self-sufficiency.
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Connect us with corrections educators, reentry programs, or community organizations that could benefit from Financial Wisdom.
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